Ita/31/2016 Of Pr. Commissioner Of Income Tax Hissar v. M/S Marvel Tea Estate (India) Ltd., Hissar

HIGH COURT OF PUNJAB AND HARYANA ATCHANDIGARH. FSR S ITA-31-2016 (O&M)Date of Decision: 03.10.2018 FSR S Pr. Commissioner of Income Tax, Hissar)...Appellant VS| M/s Marvel Tea Estate (India) Ltd., Hissar |... Respondent| KK O Coram: Hon’ble Mr.Justice Surya Kant Hon’ble Mr.Justice Sudip Ahluwalia FE SE Present:Mr. Yogesh Putney, Advocate for the appellant © Mr. Akshay Bhan, Senior Advocate with | Mr. Alok Mittal, Advocate for the respondent| FE SE SURYA KANT J. (Oral) (1)Learned counsel for Revenue states that the tax effect involved|in this case 1s)a14,35,000/- and in view of the recent Circular No.3/2018dated 11.07.2018 issued by the Ministry of Finance, Department ofRevenue, Central Board Direct Taxes, the tax effect being less than<50)lacs, he does not want to press this appeal on merits. — (2)In view of the CBDT Circular, the instant appeal is dismissedas not pressed. As prayed for by learned counsel for the appellant, liberty isgranted to the Revenue to seek revival of the appeal, if need be, in thechanged circumstances. The question of law is also kept open. | (Surya Kant) Judge 03.10.2018(Sudip Ahluwalia)vishal shonkarJudge 1. Whether speaking/reasoned?Yes/No2. Whether reportable? |Yes/No